We often hear that Bitcoin gives us financial freedom and theWhat if Satoshi Nakamoto decided to build his own Bitcoin exchange and hardware wallet? Would that make Bitcoin safer, or would it create another problem? ability to control our own money. However, when it comes to buying and securing Bitcoin, many of us still depend on third party services.
We buy Bitcoin on exchanges, leave some of our funds on those platforms, and purchase hardware wallets from manufacturers to protect our private keys.
The recent large attacks on bitcoin from ColdCard Hardware Wallet to the most recent which is Ledger Hardware Wallets and Cryptobilis and many other exchanges that have been compromised got me thinking "What if Satoshi Nakamoto decided to build his own Bitcoin exchange and hardware wallet? Would that make Bitcoin safer, or would it create another problem?"
If Satoshi (this is hypothetical i am just thinking aloud) decides to create an exchange or a hardware wallet would you use it?
For me i would definitely use it because the originator of this magnificent currency would definitely know how best to protect it.
I understand the current hardware wallet crises has made people panic a bit but the truth is, any hardware can be manipulated to spy and steal your Bitcoin. Plug in the wrong USB stick, buy a compromised device or simply download the wrong thing and boom, money gone.
I do not think another exchange and another hardware wallet is the solution, no matter who it comes from.
Only you can keep your coin safe. If you can afford millions of dollars worth of coin you can afford to put in some effort into your own security.
